U.S. markets open in positive territory, Nasdaq jumps 1.11%

Delta Air Lines and Airlines Lead the Gains

Delta Air Lines leads the S&P 500 with a jump of 7.13% to $71.83. The airline is not alone in this movement: Southwest Airlines follows with an increase of 4.82% to $41.35. Technology stocks are also showing strong performances. Supermicro climbs 5.58% to $27.42, while Oracle Corporation gains 4.23% to $162.20. Among Chinese stocks listed on the Nasdaq, JD.com leaps 5.43% to $30.51 and Baidu soars 5.30% to $117.95. BlackRock shows a notable increase of 4.42% to $1,068.90, while TransDigm Group rises 4.57% to $1,289.42.

CarMax takes a significant hit, oil sector under pressure

Against the trend, CarMax experiences the largest decline of the session, dropping 12.67% to $42.86. The used car dealer reported a loss in the fourth quarter, hit by a goodwill impairment charge and declining margins on sales.

Most of the declines are concentrated in the oil and gas sector. APA Corporation falls 5.50% to $37.32, Devon Energy drops 4.48% to $45.15, and Occidental Petroleum decreases by 4.12% to $55.67. ConocoPhillips loses 3.55% to $119.23, while Coterra drops 4.27% to $31.60. The decline in Brent oil, amid a geopolitical relaxation in the Middle East with the gradual resumption of maritime traffic and diplomatic talks, impacts the entire energy sector.
Similarly, Wells Fargo declines by 4.76% to $82.52, while Akamai Technologies falls 5.09% to $90.11.

A session driven by technology and aerospace

At mid-session, the U.S. markets present a mixed picture. While the Nasdaq and the S&P 500 are making solid gains thanks to technology stocks and airlines, the energy sector is suffering from the decline in oil. The S&P 500 stands at 6,944.19 points, in a market environment split between technological optimism and caution regarding commodities.